So what's your take on the whole situation? The two parties deeply divided over many issues, and the economy held hostage in the middle... hundreds of thousands already furloughed without pay, and god knows what might happen when the U.S. defaults in two days. Watching the latest developments makes me think that it's getting more and more likely that the default might actually happen.
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The U.S. isn't defaulting on its debt even if the debt ceiling is breached. The government takes in more than enough revenue to meets its debt payment obligations. No serious person is concerned that the U.S. will default. The only way a default occurs is if the executive branch--the Obama administration--chooses to not prioritize debt obligations over discretionary spending.
With regard to the overall economy, the stock market and bond market are rumbling along just fine, 85% of the government is operational, and all furloughed employees of the federal government are going to get paid back pay.
The sky is not falling.
Thank you, if you work in finance and do not know this. Do us all a favor and turn in your resignation effective as of now.
don't let the mainstream news scare ya
Anyone else think it's strange that the whole Syria drama was turned off like a light switch?
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